It feels like we get this question every other day, with house prices going crazy and people growing concerned about whether or not the market is going to drop. Could next year or a couple of years from now be a better time to buy a house?
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In this video, I’ll go over some statistics covering three major points:
- Home price growth: Will home prices surge? Will you lose buying power if you wait too much? Let’s look at the numbers, the forecasts, and see if it would be better for a buyer to get in the market right now or wait.
- Income: Does the economy in the Portland Metro Area support people having a solid enough income month-to-month to be able to afford a home?
- Supply and demand: Yes, there is a property shortage. In Portland, we’re seeing new housing developments and new townhouses being built, They just can’t be built fast enough for the existing demand. There are not enough houses in the market. Plus, the Millennial market is turning 30 and increasing the number of buyers in the market. So let’s at other factors in the market.
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